“When looking at who is renting at Piazza Alta . . . we found over half of residents are from out of state, in their early 30s or older and have six-figure incomes,” Matthew Pestronk Post Brothers co-founder told Forbes. “They’re choosing to rent with us because they want bigger, high-quality apartments that are virtually unheard of in densely populated urban areas. All of this points to the larger idea that cities aren’t dead, they’re simply evolving.” https://lnkd.in/eTAjgEd9
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Vice President of Marketing at Post Brothers | Strategist | CRM & Retention | Brand Development | Consumer Insights
Quality of life will always be at the heart of where people choose to live.
“When looking at who is renting at Piazza Alta . . . we found over half of residents are from out of state, in their early 30s or older and have six-figure incomes,” Matthew Pestronk Post Brothers co-founder told Forbes. “They’re choosing to rent with us because they want bigger, high-quality apartments that are virtually unheard of in densely populated urban areas. All of this points to the larger idea that cities aren’t dead, they’re simply evolving.” https://lnkd.in/eTAjgEd9
Developers Spotting Opportunities In Evolving Edge Cities
social-www.forbes.com
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Municipal Commissioner | Author of Your City is Sick I Speaker I Consultant I Founder, Revitalize, or Die. I Place Industry Advocate | Prefer to GSD
There was a time when everyone believed convenience was king. That nothing could be learned from the old ways and that cities could be completely revolutionized by the addition of cars. The idea was groundbreaking, and it was packaged in a manner that seemed sexy and fun. Imagine everyone being whisked away in their beautiful automobile to some exciting shopping destination, no hassle, no waiting. The freedom of the open road called to you and no longer would you have to walk anywhere or sit near other people on the streetcar. This period of sprawl mania, while racist to its core, was also perpetuated by the oil industry, the auto industry, and the housing industry. I don’t blame cities for getting duped into thinking that merry times were ahead with all these ‘conveniences’, but at some point, there has to be some accountability. Someone has to take stock and decide how well it’s working. Enough time has passed that there is no continued justification for cities behaving the way they do. The facts are out there, and they are staring you in the face. What should have been a simple experiment, a blip on the screen, is being allowed to continue to proliferate for no good reason whatsoever. It isn’t like we had 6000 years of sprawl growth and we decided to experiment with dense, walkable cities only lately. Cities have functioned the same going back 5 or 6 millennia. Shifting from the local economy to the convenience economy wasn’t just a mess-up but a colossal disaster of proportions we can’t even begin to comprehend. It has upended every facet of our lives and brought down a host of problems we could never fathom. The transition from walkable neighborhoods to drive-only neighborhoods has degraded the environment significantly, diminished our sense of community, decimated local businesses, scarred the landscape, stressed us out, stripped our children of the chance to roam freely and explore their surroundings, and a myriad of other issues. It has been a complete and utter failure in every regard. Yet most cities keep pushing forward. What is so frustrating, is that cities continue down this path, even though there is glaring evidence it is not working. More so, there are so many examples of success they could look to. The cities that are all performing the best have resisted adopting the convenience economy or have fought their way back to embrace traditional urban density. The concepts of new urbanism have taken hold in a lot of places, but it’s also not new at all. New urbanism is the oldest thing around, we don’t have to learn any new language or ideas to sort out our way back to health for cities, we just have to undo our mistakes. *An excerpt from Your City is Sick, available this Friday, September 1st
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Attorney | Nonprofit Professional | Community Engagement Strategist | Musings are solely my own and on topics of personal interest
“The seemingly contradictory phenomenon of returning interest in urban living and skyrocketing cost of real estate in major metropolises has fueled real estate interest in “secondary cities." While official definitions will vary, the term is generally used for urban hubs of fewer than two million residents that have been seeing significant economic and population growth. “They are cities that can offer almost all the benefits of primary cities like New York, Chicago and Los Angeles but they also offer a smaller, more intimate community and typically a lot more additional real estate space,” AJ Capital Partners’ Chief Strategy Officer Ruben Navarro told TheStreet. According to Navarro, many of the people coming in are also specifically looking for urban village-style living in which they can find restaurants and retail establishments within walking distance from their home in a way that mirrors the walkability of downtowns in major cities (how much one will need to transition to a car for everyday living is a major factor in many people’s decision to move from a primary to a secondary city.)” https://lnkd.in/eTBM4-nv
What is a secondary city and why do people want to live there?
thestreet.com
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🏙️ Exciting News for Raleigh's Growth: Introducing Downtown South! 🌆 Hey #RaleighConnections! 🙋♂️ As a seasoned real estate agent serving the vibrant Triangle area, I'm thrilled to share the exciting development on the horizon – Downtown South! 📢 What's Downtown South? 📢 The City of Oaks is growing...again. Downtown South is a subset to Raleigh's downtown area and being from Raleigh myself, it's surreal to imagine something like this coming to the Triangle. This ambitious mixed-use project aims to revitalize the southern gateway of Raleigh bringing together entertainment venues, residential spaces, retail, office spaces, green spaces, and more! 🏢🏠🏙️ 🚀 A Catalyst for Economic Growth 📈 Downtown South is set to become a vibrant hub that fosters innovation, entrepreneurship, and community engagement. With this new development, Raleigh is ready to soar to new heights as a dynamic city with an even brighter future. 🚀💼🌟 💡 What It Means for Real Estate 🏡 The news brings divided emotions between natives and 'transplants' -- based on my social media feeds, many from the area are concerned about housing affordability as a result of such developments. Others expressed excitement for Raleigh as a continuously developing metro. I personally believe that both sides present very valid points, but the bottom line is that now more than ever, we must have a financial game plan in place to keep up with the demands of the NC housing market. As a seasoned real estate agent, I see immense potential in Downtown South for both investors and homebuyers. The influx of jobs and entertainment options will undoubtedly impact the local housing market, creating exciting opportunities for savvy investors and home seekers alike. Stay ready so that you don't have to get ready. 📈💰 🏢 A New Urban Lifestyle 🚶♀️🚴♂️ The vision for Downtown South embraces a walkable, bike-friendly environment, encouraging an active and sustainable urban lifestyle. Whether you're looking for trendy condos, modern townhomes, or apartments with city views, this development offers something for everyone. 🚶♂️🏙️🚴♀️ 🏡 Ready to Explore Downtown South? 🗺️ If you're curious about the potential of Downtown South and want to explore the real estate opportunities it offers, don't hesitate to reach out. I'd be thrilled to be your guide as you navigate this exciting development and find your perfect place in Raleigh's thriving landscape. 🌟🏢 #DowntownSouth #RaleighDevelopment #RaleighRealEstate #UrbanLiving #InvestmentOpportunity #RealEstateAgent #soldbyrosha 📣 Let's connect! Drop me a message to start your Downtown South journey. 📲🏙️
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City Economic Vitality & Walkability ++ [revitalizing main streets] A walkable city is beneficial for economic vitality because it encourages more pedestrian traffic, which can lead to increased retail sales for local businesses. When people are able to walk easily from place to place, they are more likely to stop and shop at stores along the way, boosting the local economy. Additionally, walkable cities tend to have higher property values, as people are willing to pay more to live in areas with easy access to amenities and services. This can attract more investment and development, further contributing to the economic growth of the city. Overall, a walkable city creates a more vibrant and active community, which can have positive effects on the local economy. City Tactics to Make it Walkable: 1. Create well-maintained sidewalks, crosswalks, and pedestrian-friendly pathways. 2. Develop a reliable and efficient public transportation system that complements walking, making it easier for people to get around without relying on cars. 3. Encourage the development of mixed-use neighborhoods where residential, commercial, and recreational spaces are integrated, reducing the need for long commutes and promoting walkability.
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Markets for apartments in urban cores are catching up with their suburban competitors in terms of both occupancy and rent growth, according to a new report from RealPage Market Analytics. GlobeSt has the scoop: https://lnkd.in/gDbQ38TU
Urban Core Apartments Catch Up With Suburban Counterparts | GlobeSt
globest.com
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🌟 Discover Liberty Village: Toronto's Vibrant Urban Oasis 🌟 Are you looking for the perfect blend of modern living, historic charm, and vibrant community life? Look no further than Liberty Village, one of Toronto's most dynamic and sought-after neighborhoods. Liberty Village is an urban gem that offers a unique mix of residential, commercial, and recreational spaces. Here’s why this neighborhood is a fantastic choice for property investors and renters: 🏢 Modern Living Spaces: Liberty Village boasts a variety of residential options, from stylish lofts and condos to spacious townhouses. The area's modern architecture is seamlessly integrated with historic buildings, offering a distinctive and appealing aesthetic. 🍴 Thriving Food Scene: With an array of trendy restaurants, cozy cafes, and lively bars, Liberty Village is a food lover’s paradise. Enjoy culinary delights at popular spots like Local Public Eatery, Mildred’s Temple Kitchen, and Brazen Head Irish Pub. 🌳 Recreational Amenities: Stay active and healthy with access to top-notch fitness centers, yoga studios, and the Liberty Village Park. The nearby waterfront trails and green spaces provide the perfect setting for outdoor activities and relaxation. 📈 Booming Business Hub: Liberty Village is not just a residential haven; it's also a thriving business district. Home to numerous startups, tech companies, and creative agencies, the area is a hotspot for innovation and entrepreneurship. 🚇 Convenient Connectivity: With easy access to the TTC, GO Transit, and major highways, commuting to downtown Toronto or other parts of the city is a breeze. The upcoming Ontario Line will further enhance connectivity, making Liberty Village even more accessible. 🏞️ Community and Culture: The neighborhood is known for its strong sense of community and cultural vibrancy. Enjoy local events, art galleries, and a variety of entertainment options that keep the area buzzing with energy. Investing in or renting property in Liberty Village means embracing a lifestyle of convenience, comfort, and connectivity. Whether you're a young professional, a growing family, or an astute investor, Liberty Village offers something for everyone. Interested in learning more about available properties in Liberty Village? Contact us today and let’s explore the opportunities together! #TorontoRealEstate #LibertyVillage #PropertyInvestment #UrbanLiving #TorontoLiving #PropertyManagement
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📌 Renters moving to the suburbs bring urban expectations with them. As the 'great migration' continues to shape housing trends, multifamily professionals at Apartmentalize 2023 ponder the impact of this shift. Walkable amenities, customer service, and mirroring urban product are among the factors shaping the new development paradigms. Find out more in here: https://lnkd.in/gcwb4Y-d #HousingTrends #SuburbanLiving
Renters moving to the suburbs bring urban expectations with them
multifamilydive.com
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With downtowns across the U.S. still reeling from the changes brought on by COVID-19, we looked into how prices have changed in 40 of the largest cities in the country, as well as their downtowns. We found that over the past decade, prices grew at a sharper rate at the city level than downtown in 31 of the United States’ 40 largest cities. In fact, citywide price gains were substantial enough between 2014 and 2023, that today, 17 downtowns have lower median sale prices than their city, compared to just 9 a decade ago. For example, Downtown L.A. is now 36% lower-priced than the City of Los Angeles, whereas 10 years ago it was 7% more expensive. Seattle’s downtown followed a similar route, as did Dallas, Minneapolis and Denver, among others. Read our full report below to find out more on the evolution of downtown prices: https://lnkd.in/d9KrTi44
USA's Largest Cities See Slower Home Price Growth in City Centers | PropertyShark
https://www.propertyshark.com/Real-Estate-Reports
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Over the past year, Chicago's rental rates have soared by 20.7% 📈, showcasing the city's increasing allure and the growing demand for urban living. 🌆 This isn't just a brief trend; it's a shift fueled by a rising interest in the vibrant lifestyle and amenities the city has to offer. 🏙️ With the supply lagging behind, there are ample opportunities for astute real estate investors. 🚀 Need some expert advice on where and how to make the most of this thriving market? Feel free to reach out for specialized insights and guidance on securing strategic, profitable investments in this dynamic area. 🌟 #ChicagoRealEstate #UrbanLiving #InvestmentOpportunities #RealEstateInvesting #CityLife #MarketTrends #PropertyInvestment
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Regional Content Marketing Manager, Bohler | We Move Your Projects Forward
1wVery insightful piece. Thanks for sharing and contributing.